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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

UAE, IRENA Launch Global Platform to Accelerate Renewable Energy Projects

The UAE and the International Renewable Energy Agency (IRENA) announced the launch of the global platform on the sidelines of COP26, in Glasgow. (WAM)

The United Arab Emirates and the International Renewable Energy Agency (IRENA) has launched a global platform that aims to accelerate renewable energy projects, state news agency WAM reported on Wednesday.

The Abu Dhabi Fund for Development will become the first strategic partner in the platform, providing $400 million to help it raise at least $1 billion dollars.

The platform, launched during the COP26 UN climate conference in the Scottish city of Glasgow, aims to provide the financing needed to generate 1.5 gigawatts of renewable energy by 2030, the news agency added.

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